Pilot planned for new pair of protection products.
Fortis has launched a UK life business with the roll-out of two new protection products.
The insurer, which already has a strong presence in the UK general insurance market, will pilot the products through a small group of protection-focused IFAs, followed by a controlled roll-out to the wider protection market.
YourLife Plan is a flexible menu protection plan that provides a choice of term assurance, family income benefit, critical illness and income protection. The covers can be tailored to individual customers’ needs and be put on risk independently through one application process.
Meanwhile, Real Life Cover is a plan designed with protection specialists, LifeSearch. It combines seven essential protection covers, including life and income protection, with the option of unemployment cover. This is aimed at customers who know they need more than just term assurance but find it difficult to choose between the different types of cover available or see them as too expensive or too complicated.
The new systems tailor questions around the customers’ specific circumstances, remove the need for signatures, provide real-time updates and avoid general practitioners’ reports wherever possible.
Barry Smith, Chief executive officer of Fortis UK, said: “The launch of Fortis Life is another significant step forward for Fortis in the UK, complementing our successful and award-winning range of general insurance propositions. As part of Fortis’ overall strategy for growth, we identified the opportunity to organically enter the UK Life market, leveraging the capabilities within the non-life businesses to create a competitive advantage. The launch builds on our commitment to support our partners and to enhance customer choice. Together, this makes Fortis the natural choice for insurance solutions.”